This would have been true if ONT wasn't pegged to BTC.... ONT performed well because many people saw it as a hedge against a declining bitcoin.
Now that BITCOIN is rising in dollar value, trading bots automaticly adjust the relative value of ONT in terms of BTC value.

Your analysis is correct tho, 2 bullflags. There should have been a reversal to the upside.

@TheCryptoLorax, I agree with this however i think your c wave will be a lot longer considering we would have created a massive head and shoulders and broken through my target is between 29k - 35k sats